What Happens after Detroit's Bankruptcy?

January 3rd, 2014
in econ_news

By Richard H. Mattoon, Senior Economist, Federal Reserve Bank of Chicago

Detroit's bankruptcy filing on July 18, 2013, is historic for its size and symbolism: The largest municipal bankruptcy in U.S. history represents a low point for the once-dominant American industrial icon. However, Detroit is certainly not the first U.S. city to face profound fiscal problems.

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Chicago Fed Letter

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source: http://www.chicagofed.org/digital_assets/publications/chicago_fed_letter/2014/cfljanuary2014_318a.pdf

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